Borrowing the headline from a Las Vegas Review-Journal story announcing the news, we find more evidence that the comeback of the home building industry in Southern Nevada keeps moving forward.
A housing development that got sidetracked by the recession is back on track.
In another good sign for the future, another master planned community is set to break ground.
The 1,800-acre-plus Villages at Tule Springs, which original plans had slated to begin construction about 10 years ago, is getting ready to start building and creating new jobs.
“If everything stays on track, we are looking to have homes go vertical in early first quarter of 2017,” said Bob Gronauer of the Kaempfer Crowell law firm, which represents the development’s owners.
Gronauer added that he expects homes to be ready for sale as early as the end of 2017.
Over the next 10 to 15 years, the 2,000-acre housing development is expected to create 24,000 jobs, including construction and sales positions, according to Gina Gavan, director of economic development for North Las Vegas. The project would also bring an economic impact of approximately $3.3 billion to the region, she said.
The Villages at Tule Springs, east of Aliante and north of the 215 beltway in North Las Vegas, is one of several new master planned communities starting recently around the Las Vegas valley, along with Skye Canyon in northwest Las Vegas and Cadence in Henderson. For several years during and after the downturn, no new master plans were begun.
Several large parcels purchased just before the downturn that had been designated for master plans – including Park Highlands, which contained the Villages at Tule Springs, and what is now known as Skye Canyon – cycled through different owners. After the dust from the recession settled and the prospects for new home sales have improved, the master plan is returning.
Park Highlands was initially purchased as part of a Bureau of Land Management auction in 2005. It has since been split into the Villages at Tule Springs, called Park Highlands East in the original plan, and Park Highlands West, a parcel that lies west of Aliante.
More than 8,000 new homes, along with the public service infrastructure and commercial development to support the families living in them, are planned for the Villages at Tule Springs.